Diametric Capital LP Takes $197,000 Position in indie Semiconductor, Inc. (NASDAQ:INDI)

Diametric Capital LP acquired a new position in shares of indie Semiconductor, Inc. (NASDAQ:INDI) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 48,661 shares of the company’s stock, valued at approximately $197,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. National Bank of Canada FI lifted its stake in indie Semiconductor by 42.7% in the 4th quarter. National Bank of Canada FI now owns 13,452 shares of the company’s stock valued at $54,000 after acquiring an additional 4,023 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of indie Semiconductor by 1.8% in the fourth quarter. Rhumbline Advisers now owns 239,090 shares of the company’s stock valued at $968,000 after purchasing an additional 4,156 shares during the last quarter. Arizona State Retirement System boosted its holdings in indie Semiconductor by 13.0% during the fourth quarter. Arizona State Retirement System now owns 51,961 shares of the company’s stock worth $210,000 after purchasing an additional 5,960 shares during the last quarter. Daiwa Securities Group Inc. grew its position in indie Semiconductor by 74.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company’s stock valued at $60,000 after purchasing an additional 6,363 shares in the last quarter. Finally, American Trust increased its stake in indie Semiconductor by 28.2% in the 3rd quarter. American Trust now owns 28,976 shares of the company’s stock valued at $116,000 after buying an additional 6,375 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INDI has been the subject of a number of recent research reports. UBS Group assumed coverage on shares of indie Semiconductor in a research note on Friday, January 24th. They set a “neutral” rating and a $4.50 price objective for the company. Benchmark decreased their price target on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, KeyCorp dropped their price objective on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, indie Semiconductor presently has an average rating of “Moderate Buy” and an average target price of $7.50.

Insiders Place Their Bets

In related news, CEO Donald Mcclymont sold 50,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $3.12, for a total transaction of $156,000.00. Following the sale, the chief executive officer now owns 65,932 shares of the company’s stock, valued at $205,707.84. This trade represents a 43.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Michael Wittmann sold 13,570 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $2.90, for a total transaction of $39,353.00. Following the completion of the transaction, the chief operating officer now owns 67,012 shares of the company’s stock, valued at approximately $194,334.80. This trade represents a 16.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 148,289 shares of company stock worth $443,668 in the last 90 days. Company insiders own 8.20% of the company’s stock.

indie Semiconductor Stock Performance

INDI opened at $2.12 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. The business has a fifty day simple moving average of $3.21 and a 200 day simple moving average of $3.80. indie Semiconductor, Inc. has a 1 year low of $1.90 and a 1 year high of $7.82. The company has a market capitalization of $428.06 million, a PE ratio of -2.79 and a beta of 1.54.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The business had revenue of $58.01 million for the quarter, compared to analyst estimates of $58.20 million. indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. Research analysts expect that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

indie Semiconductor Company Profile

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.